Section 16.10.905 - Powers and duties of the department The department may
(1) make loans to eligible applicants under AS 16.10.890 - 16.10.945 for the planning, construction, and operation of a (A) mariculture business;(B) hatchery that artificially propagates marine aquatic plants or shellfish; or(C) a shellfish enhancement project;(2) receive, take, hold, and administer any appropriation, transfer, gift, grant, bequest, devise, or donation of money for the fund;(3) establish amortization plans for repayment of loans, including extensions of the terms of loans;(4) allow an assumption of a loan if(A) the applicant meets the requirements established under this section; and(B) approval of the assumption would be consistent with the purposes of AS 16.10.890 - 16.10.945; (5) establish the rate of interest for loans consistent with law;(6) charge and collect fees for services provided under AS 16.10.890-16.10.945; (7) adopt regulations under AS 44.62 necessary to carry out the provisions of AS 16.10.890 - 16.10.945, including regulations to establish reasonable fees for services provided; and(8) designate agents and delegate powers as necessary to the agents.Amended by SLA 2018, ch. 93,sec. 4, eff. 8/27/2018.Added by SLA 2012, ch. 58,sec. 12, eff. 6/7/2012.